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Wednesday, January 23, 2019

Briggs & Stratton (BGG) reported earnings on Wed 23 Jan 2019 (a/h)

** charts before earnings **


** charts after earnings **

Briggs & Stratton misses by $0.05, beats on revs; lowers FY19 guidance
  • Reports Q2 (Dec) earnings of $0.20 per share, excluding items, $0.05 worse than the S&P Capital IQ Consensus of $0.25; revenues rose 13.3% year/year to $505.5 mln vs the $461.71 mln S&P Capital IQ Consensus.
  • Co sees FY19 EPS of $1.10-1.30 before business optimization costs and other charges, prior guidance $1.40-1.60 vs. $1.44 S&P Capital IQ Consensus; revs of $1.9-1.96 bln, prior $1.95-2.01 bln vs. $1.94 bln S&P Capital IQ Consensus. Operating margin is expected to be 4.5% to 4.8% (previously 5.3% to 5.5%). The revision reflects the weather-related market softness in Europe and Australia and the impact of the Sears bankruptcy.
  • Continues to anticipate capital expenditures of approximately $65 million. The company's business optimization program is now expected to generate pre-tax savings of $35 million to $40 million (previously $30 million to $35 million) by fiscal 2021. Total pre-tax charges to achieve the savings are now expected in the range of $60 million to $70 million (previously $50 million to $55 million), including fiscal 2019 program costs of $42 million to $46 million (previously $27 million to $32 million). The increase largely relates to higher than anticipated costs related to the ERP upgrade.

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